Punjab National Bank detects Rs 11,500 crore fraud in Mumbai Branch. The bank has suspended 10 officials and referred the matter to the Central Bureau of Investigation for investigation. The CBI received Punjab National Bank's complaints against celebrity jeweller Nirav Modi.Bank detected some fraudulent and unauthorised transactions in one of its branch in Mumbai for benefit of few select account holders with their apparent connivance. Based on these transactions other banks appear to have advanced money to these customers abroad.